first majestic silver

Gold Price And Silver Updates

Technical Analyst & Editor
October 8, 2016

Gold sector cycle reversed down this week.

Gold Sector

$HUI is on a long-term buy signal.

Long term signals can last for months and years and are more suitable for the long-term investors.

$HUI is on a short term sell signal.

Short-term signals can last for days and weeks and are more suitable for traders.

Speculation dropped sharply but not yet at level of previous bottom.

Summary

Gold sector is on a major buy signal.

Cycle is down.

Our modest positions were stopped out with small losses.

We shall now wait for the next cycle bottom.

Silver Sector

Silver is on a on a long term buy signal.

Long-term signals can last for months and years and are more suitable for long-term investors.

SLV – short-term is on sell signal.

Short-term signals can last for days and weeks and are more suitable for traders.

Speculation dropped but not yet at level of previous bottom.

Summary

Silver is on a long-term buy signal.

Short-term is on sell signal.

Silver is more volatile than gold, manage your risk.

Courtesy of www.simplyprofits.org

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Jack Chan is the editor of Simply Profits, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and focus on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the NASDAQ top in 2000, the new gold bull market in 2001, the stock market top in 2007, and the US dollar bottom in 2011.


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